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January 26, 2006
Today's sponsor: ASPPA • Working for America's Retirement™

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NEW! Qualified Plan Financial Consultant

Qualified Plan Financial Consultant, QPFC, is a new professional credential for financial professionals who sell, advise, market or support qualified retirement plans. QPFC will keep you abreast in an ever-changing marketplace while expanding your referral network.

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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

Text of Proposed Regulations for Designated Roth Accounts (PDF)
12 pages. Excerpt: "These proposed regulations provide guidance on the taxation of distributions from designated Roth accounts and other related issues. A designated Roth account is a separate account under a section 401(k) plan or section 403(b) plan to which designated Roth contributions are made, and for which separate accounting of contributions, gains, and losses are maintained." (Internal Revenue Service)

Michigan Governor Granholm Pushes 401(k)s in State of the State Message
Excerpt: "Tens of thousands of Michigan employees who have no retirement plan could invest in a state-run 401(k) program under a proposal unveiled Wednesday night by Gov. Jennifer Granholm in her annual statewide address." (The Detroit News)

Older Boomers on Track with Retirement Income, According to Fidelity Investments
Excerpt: "Fidelity Investments has announced that, based on recordkeeping data from its Employer Services Company, baby boomers turning 60 this year have surpassed the $100,000 mark for average 401(k) account balances." (PLANSPONSOR.com; one-time registration required)

Chart Comparing Retirement Bills, H.R. 2830/S. 1783), Administration Proposals, and Current Law (PDF)
19 pages. The chart also outlines the American Benefits Council's positions on the leading single-employer pension funding reform proposals. (American Benefits Council)

Congress May Deal with Double Standard for Company Pensions
Excerpt: "A provision in the pension reform bill reportedly may bar some companies with underfunded plans from offering other special benefits solely to their top executives." (CFO.com)

California Lawyers Union Backtracks on Pension Request
Excerpt: "The union representing 3,000 state-employed attorneys has quietly dropped a controversial provision from its latest contract that would have allowed members to opt out of California's public pension system." (Law.com)

Amended Pension Deals Sought with San Diego System
Excerpt: "The port and airport authority are proposing amending their agreements with the troubled San Diego system to better insulate their investments in case of bankrup.tcy or default." (The San Diego Union-Tribune)

Opinion: Pension Bombs Go Boom in Bonds -- Treasuries Next?
Excerpt: "A faint ticking sound is pulsing through the U.S. Treasury market, echoing the boom that's exploded in U.K. government bonds maturing in 30 years and more. As the rules governing British pension funds have mutated in recent years, the law of unintended consequences has kicked in. Demand for long-dated, fixed-income securities has ballooned, driving prices through the roof and yields through the floor." (Bloomberg News)

Summary of New Research on Retirement Savings among Workers
Excerpt: "The summary ... provides highlights of recently published research on retirement savings among U.S. workers." (U.S. Bureau of Labor Statistics)

Retirement Math - - When to Walk Away Requires Several Calculations
Excerpt: "The calculators posted on the Social Security Administration's Web site (www.ssa.gov) have become a popular online destination, drawing 1.3 million visitors in the last quarter of 2005. Now quicker and easier to use, they lay your expected benefit right out in front of you. But the numbers are just a piece of the retirement decision." (Reuters via The New York Times; one-time registration required)


Links to Items on Executive Comp, Benefits in General

Overview: Definition of Dependent Clarified
Excerpt: "The Gulf Opportunity Zone Act (GOZA) includes a clarification of the definition of dependent in conjunction with hardship distributions, flexible spending accounts, and other tax issues." (McKay Hochman Co., Inc.)

New Jersey Domestic Partner to Get Pension Benefits
Excerpt: "On Friday, State Senator Andrew R. Ciesla, a Republican from Ocean County, agreed to sponsor legislation that would fix the state rules that allow those in the public employee retirement system to name anyone as beneficiary for their benefits, while those in the police and fire retirement system must designate a spouse." (The New York Times; one-time registration required)

In Brief: Phased Retirement -- Who Opts for It and Toward What End? (PDF)
Excerpt: "A succinct summary of the similarly titled AARP Public Policy Institute Issue Paper by Yung-Ping Chen and John C. Scott exploring which workers might opt for phased-retirement if opportunities were more widely available, when and under what circumstances they might do so, the factors that might be associated with taking phased retirement, and the consequences of the decisions for them and their families." (AARP)

Report: Phased Retirement -- Who Opts for It and Toward What End? (PDF)
Excerpt: "Which workers might opt for phased-retirement if opportunities were more widely available, when and under what circumstances they might do so, the factors that might be associated with taking phased retirement, and the consequences of their decisions for them and their families are explored in this AARP Public Policy Institute Issue Paper by Yung-Ping Chen and John C. Scott." (AARP)

ERIC Provides Testimony at 409A Hearing before IRS and Treasury on January 25, 2006 (PDF)
7 pages. This is the ERISA Industry Committee testimony of John M. Vine at the Hearing on the Proposed Regulations under Section 409A Regarding Nonqualified Deferred Compensation Plans. (The ERISA Industry Committee)

Employee Health and Retirement Coverage Cutbacks Could Spawn Sales and Profit Woes for Employers
Excerpt: "Over the next 15 years, predicts benefits pundit Dallas Salisbury, the scaling back of employer benefit funding will lead to greater demands on government, which would saddle employers as well as individuals with higher taxes." (CFO.com)

Opinion: HSAs vs. SS Privatization
Excerpt: "To a large extent, many of the arguments against Social Security privatization in 2005 hold equally true in the upcoming debate over Health Savings Accounts .... But there is also a significant difference. Privatization was aimed at a financially sound, effective Social Security program while this time the target (ostensibly) is a dysfunctional health care system. [This article originally appeared on TPMCafe January 24, 2006.]" (The Century Foundation)


Additional sponsor: ASPPA • Working for America's Retirement™

(Click on company name or banner to learn more.)
Banner ad for ASPPA • Working for America's Retirement™

Sal L. Tripodi's 2006 ERISA Outline Book now available

The '06 ERISA Outline book will give you what you need to succeed.
Now with five volumes, these are the books that will tell you what you need to know, including:

  • Revised comprehensive 415 regulations
  • Expanded information on Roth 401(k) contributions
  • Final USERRA regulations

Order The ERISA Outline Book today!


(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

Newly Posted Events
(Post Yours!)

Medicare Part D: 2006 and Beyond Teleweb
Nationwide on February 16, 2006
presented by International Foundation of Employee Benefit Plans


Newly Posted Press Releases
(Post Yours!)

IRS Urged To Further Clarify 409A Compensation And Benefits Regulations
(American Benefits Council)

Treasury and IRS Propose Rules Regarding Designated Roth Contributions
(U.S. Treasury Department and Internal Revenue Service)

Mason County Woman Sentenced To Over Two Years In Prison For Stealing From Her Company's Employees' Pension And Insurance Plans
(U.S. Department of Labor, Employee Benefits Security Administration)


Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

401(k) Account Manager
for BISYS Retirement Services
in PA

ERISA Consultant
for BISYS Retirement Services
in MN

Plan Administrator
for Third Party Administration Firm
in FL

401(k) Plan Administrator
for Northeast Planning Services, Inc.
in MA

Retirement Plan Services - Relationship Manager
for Trust Company of Illinois
in IL

Plan Consultant Opportunity
for Weaver Partners, Inc.
in ANY STATE

Benefits Administrator
for Reese Teleservices, Inc.
in PA

Relationship Manager
for MassMutual Financial Group
in MI




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